KLP Kapitalforvaltning AS Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

KLP Kapitalforvaltning AS purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 268,800 shares of the company’s stock, valued at approximately $24,176,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amundi increased its holdings in shares of DocuSign by 565.8% in the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock valued at $123,486,000 after purchasing an additional 1,172,368 shares in the last quarter. American Century Companies Inc. increased its holdings in DocuSign by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after buying an additional 831,611 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of DocuSign by 61.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after acquiring an additional 637,505 shares during the period. Fiera Capital Corp purchased a new stake in shares of DocuSign during the 4th quarter worth approximately $47,920,000. Finally, Principal Financial Group Inc. grew its holdings in shares of DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after acquiring an additional 529,308 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research analyst reports. Citigroup boosted their target price on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Robert W. Baird set a $93.00 target price on DocuSign in a research note on Friday, March 14th. William Blair raised DocuSign from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Bank of America decreased their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, DocuSign presently has a consensus rating of “Hold” and a consensus price target of $95.00.

DocuSign Stock Up 3.5 %

DOCU stock opened at $88.06 on Friday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock’s fifty day simple moving average is $87.54 and its 200-day simple moving average is $80.31. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $0.76 EPS. As a group, analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the transaction, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at $7,817,472. The trade was a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,851 shares of company stock worth $8,579,369 in the last quarter. 1.66% of the stock is owned by insiders.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.